Global Fastener News

Q3 Fastener Stocks Rebound

Q3 Fastener Stocks Rebound
October 02
23:40 2017

The FIN Fastener Stock Index regained momentum in the third first half of 2017, increasing 2.3% during the period. That compares to a 4.7% increase by an index of related industrial stocks during the first nine months of the year.

Fastener stocks gaining 10% or more in value during the third quarter of 2017 included Arconic (up 12%); Carpenter Technologies (up 29.7%); Lawson Products (up 14%); Park-Ohio (up 19.7%); Simpson Mfg. (up 12.2%); and TriMas (up 27%).

Fastener companies losing 10% or more in stock value during Q3 included Chicago Rivet (down 17%); Dorman Products (down 12.5%); Bisco Industries (down 14.6%); MSC Industrial (down 12%); and Tree Island Steel (down 25.5%).

During the first nine months of 2017, the FINdex gained 5.3%, compared to a 13.5% increase by an index of related industrial stocks.

FINdex companies gaining 10% or more in value during the first nine months of 2017 included Arconic (up 34%); Carpenter Technologies (up 33%); KLX (up 17.3%); Simpson Mfg. (up 12.2%); and TriMas (up 29.5%).

Fastener companies losing 10% or more in stock value during the first nine months of 2017 included Chicago Rivet (down 25.5%); Grainger (down 22.6%); Tree Island Steel (down 36.6%); and Wesco Aircraft (down 16.8%).

The FINdex lost steam in the first half of 2017, increasing only 2.9% during the six-month period after gaining 9.1% in the opening quarter of the year. That compares to an 8.4% increase by an index of related industrial stocks during the first six months of the year.

In 2016, the FINdex rose 20% during the year.

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